Nigeria’s non-oil export The Nigerian Export Promotion Council (NEPC) has said that Nigeria’s non-oil export revenue recorded a 6 per cent decrease in value from $4.8 billion in 2022 to $4.5 billion in 2023. Disclosing this recently while addressing newsmen on the performance report of the non-oil export sector for 2023, the Executive Director...
•Mohammed Bello The Revenue Mobilisation Allocation and Fiscal Commission has said a substantial amount of government revenue remains trapped in the vault of commercial banks unremitted. The commission also expressed concern about the non-remittance of monies to the government coffers by revenue-generating agencies to the extent that a large c...
Oil marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria have berated the Nigerian National Petroleum Company Limited for alleged delay in the supply of petroleum products. As a result, the marketers said they had been forced to boycott the NNPCL to source fuel from private depot owners at a higher cost. [&he...
The Federation Account Allocation Committee (FAAC) has shared a total of N1.1 trillion December 2023 allocation to the Federal Government, States and Local Government councils. This was contained in a communiqué issued at the end of the Federation Account Allocation Committee (FAAC) meeting for January 2024, a statement by the Director of Pres...
•Blinken and Tinubu The US Secretary of State Anthony Blinken has assured of the country’s companies’ readiness to partner with and invest in the Nigerian economy. Blinken, who is on an African tour, made the remark in Abuja during his visit to President Bola Tinubu at the Presidential Villa, reports Channels TV. “American entrepreneurs and [&...
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has rejected the planned sale of Shell’s onshore assets, claiming the group being speculated to buy up the assets is unknown to it. On January 16, Shell said it would sell its Nigerian subsidiary, Shell Petroleum Development Company of Nigeria Limited (SPDC), for a [...
•Dangote refinery The Dangote Petroleum Refinery has confirmed the registration of oil marketers as its distributors. Dangote Group said today that it had registered three associations of marketers in the Nigerian oil sector. In a statement on its X today, the Dangote Group listed the marketers to include members of the Depot and Petroleum Pro...
Dangote Cement reached N10tn market capitalisation at the close of business today, Monday, January 22, making it the first firm on the Nigerian Exchange to reach that milestone. It closed trading with a N10.098tn market cap. Recall that, it displaced Airtel Africa as the most capitalised stock on the local stock exchange earlier this month. [&...
•Dangote Refinery The Dangote Petroleum Refinery is to supply fuel to about 150,000 retail outlets operated by the Independent Petroleum Marketers Association of Nigeria following a meeting between the management of the refinery and executives of IPMAN. Last week Monday, it was reported that IPMAN had scheduled a meeting with the management of...
Nigerian Ports Authority (NPA) said it has taken trade facilitation a notch higher with the berthing of the largest container carrier. The Lekki Deep Seaport yesterday berthed the largest container vessel to sail on Nigerian territorial waters. This was disclosed in a statement by the Nigerian Ports Authority (NPA) which said it has taken trad...
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